Okay, so now -- what would you do if the seller said to you, "If you don't move the property in 30 days I'll get someone else to sell it!"
HELLO!!!! Someone just landed from Mars and lost his way to the shooting gallery. I'm, WHAT DID YOU SAY?
And tomorrow, I'll say it again: WHAT DID YOU SAY?
Been galled lately?
Terry,
Actually I've had a seller come close. My response was to show them what we call the wholesale/retail price pyramid. So Mr./Mrs. seller, you can see by the average time on the market that in order to sell you house in 30 days you'll have to price it somewhere between 75% - 80% of market value. Are you willing to do that?
I figure I'm going to walk out anyway so why not have a little fun?
Hi Larry -- but the thing of it, is that you're right, and given the number of REOs in their neighborhood, it could be -- SHOCKINGLY SO -- closer to 65-70% of market value to get the home sold. It's getting to be a rugged reality out there for many (most) sellers! God bless you!
What a same....but true... I am looking at 60 % of market value to get the homes sold.
Well, Jack, finally a REALIST REALTOR steps forward. It's lousy news to sellers, but it's the difference between a sale or a mortgage they often can no longer afford. It's the "Wacky World of Real Estate." Is that an AR Group? Thanks, Jack!
I was just struck with this thought: what do other Realtors think about these percentages???
And I want my price too... that was the end of the seller sentence, said while you mouth was wide open.
I agree. If a seller places a demand on selling within 30 days (a time frame much lower than the average listing period) they they have to be willing to sell it well below market value in order to attract buyers within that short period of time. If they only want the Realtor to "give" in this scenario then they need to find one that's willing to do that; and then another one after that; and then another one after that; and so on and so forth.
Hi Mary -- ain't it the truth. It's completely an "outer space" phenomenon. One of our neighbors has had his house for sale AT HIS STATED PRICE for going on two years. He's firm, and his house will NEVER sell at the price he's asking -- unless, maybe, he gets a visit from outer space! Thanks for your comment.
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